Agent/Broker Digital Channel Usage

Report Summary

Agent/Broker Digital Channel Usage

The general question of “what channel do agents and brokers really use today?” needs to be refined with the secondary question “for which purpose?” While newer technologies like mobile and social may play a role, older technologies like email can’t be ignored.

Understanding the purpose and incentives in each different communications use case can help insurers optimize their digital strategies.

This report looks at average data across a group of 38 companies, to help insurers benchmark and assess their own digital strategies and maximize the value of their investments.

Topics

  • Usage rates of digital and offline channels specific to communications use cases.
  • Usage rates of digital and offline channels specific to industry segments.
  • Pros and cons of email, portals, and other digital channels.

Key Points

Portals are still at the center, both of insurers’ digital strategies and their communications with distributors – except for large commercial insurers.

Don’t forget about email! Humble old email rivals or exceeds portal usage for many purposes – especially for large commercial insurers where it’s the dominant channel. Insurers need to consider how to manage email handling, workflow, storage, and security.

Mobile is still about notifications, not transactions. Mobile is gaining some traction in distributor communications for personal lines and life/annuity insurers, but it’s more about pushing information out rather than accepting information.

 

Table of Contents

  • Introduction................................................................3
  • Key Findings...............................................................4
  • Email................................................................................5
  • Portals.............................................................................6
  • Other Digital Channels.........................................7
  • Large Commercial/Specialty Lines............8
  • Small Commercial Lines.....................................9
  • Personal Lines............................................................9
  • Individual Life/Annuity.........................................9
  • Concluding Thoughts..........................................13
  • Next Steps and Related Research...............13
  • About Novarica.........................................................14

 

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